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SK hynix to invest $26 bn in new chip plant

SINGAPORE/SEOUL,S.KOREA: SK hynix, the SK Group’s semiconductor affiliate and runner-up to Samsung Electronics in the global memory chip industry has announced it plans to build two new chip plants over the next eight years in South Korea at a cost of 31 trillion won ($26 billion).

The two highly advanced memory chip-producing plants will be built in Icheon and Cheongju, North Chungcheong Province by 2023, where it will produce NAND flash memory chips.

The investment was disclosed at a ceremony for the completion of the world’s largest semiconductor plant, M 14, in Icheon, Gyeonggi Province.